Creditors to Take Over Hawker Beechcraft After Sale Collapses
Hawker Beechcraft has filed an amended restructuring plan after its sale to Superior Aviation Beijing fell through. Now the creditors will take over the business jet manufacturer.
Creditors include Centerbridge Partners, Angelo Gordon & Co., Sankaty Advisors and Capital Research & Management, a Bloomberg/BusinessWeek article said. The amended plan swaps debt for equity.
The amended plan is supported by a majority of the company’s noteholders and creditors.
To read the Bloomberg/BusinessWeek article click here.
Previously on monitordaily: Hawker Intends to Emerge From Chapter 11 as Standalone, published October 19, 2012